This is a 10:47 a.m. intraday update of Turov on Timing for Monday, November 10, 2008.
After a big gap opening, the Standard & Poor’s 500 Index (“SPX”) has trimmed its initial advance by about 60%. Good
– because I want to go long. The odds are about 7:3 that the market will close higher than it currently is.
The SPX is currently about 940. TOT daily traders are advised to go 400% long at SPX 941 stop. If you go long, use
a protective sell stop at a rather distant 928. If still long on the close, carry your position overnight and into
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of tomorrow’s
session – or sooner if circumstances warrant.
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